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Real Estate & Construction

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As an investor, developer, occupier, construction consortium or asset manager, your real estate deals are executed to tight deadlines within complex local legal systems. If, for example, your property assets cross international markets, you face issues based on differing real estate law as well as cultural and economic contexts. With over 800 lawyers in 40 countries, we give consistent legal advice across borders, coordinated from your home market. Whether you are in the retail, residential, hotels, infrastructure, care home, office, logistics, renewable energy or student accommodation sectors, we have the specialists to help.

Through decades of experience of doing deals across Europe, our multi-jurisdictional teams adhere to the same templates, processes and standards, including project management. This means we can deploy specialist teams to advise you immediately, irrespective of where the real estate assets are. If you are launching or operating a real estate fund or setting up a real estate related joint venture, our funds and corporate experts can give you country-specific support. This approach allows us to guide your tax, planning, debt financing, construction and management issues in addition to your traditional real estate portfolio and property management work.

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April 2020
CMS Real Es­tate & Con­struc­tion Glob­al Bro­chure
As the fifth-largest glob­al law firm and the largest real es­tate team in Europe with more than 800 ded­ic­ated law­yers, CMS com­bines loc­al know­ledge with in­ter­na­tion­al strength and ex­per­i­ence. Our in­teg­rated teams of­fer you the best com­mer­cial guid­ance
April 2020
Our real es­tate cap­ab­il­ity at your ser­vice
We are over 800 qual­i­fied law­yers work­ing in real es­tate and con­struc­tion, span­ning 43 coun­tries and 74 cit­ies. The CMS Real Es­tate and Con­struc­tion prac­tice is the largest real es­tate spe­cial­ist team in Europe and one of the biggest world­wide.Cli­ent
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21 September 2020
Real Es­tate Re­set
From pan­dem­ic to pur­pose  As we wel­comed in a new year, the de­fin­ing is­sue of the next dec­ade looked set to be sus­tain­ab­il­ity. The rise of ESG – En­vir­on­ment, So­cial, Gov­ernance – was no flash in the pan; it was now a guid­ing prin­ciple for glob­al in­vestors and in­sti­tu­tions. Re­spond­ing to the cli­mate crisis was a pri­or­ity. And then COV­ID-19 changed everything.   Few would have pre­dicted quite how quickly the world would be turned up­side down by a glob­al pan­dem­ic, the like of which has not been seen for a cen­tury or more. The hu­man cost and in­di­vidu­al tra­gedies have been in­des­crib­able. The eco­nom­ic and so­cial im­pact un­pre­ced­en­ted. Cit­ies have be­come ghost towns. Mil­lions are work­ing from home, not of­fices. Re­tail, leis­ure and travel sec­tors have been par­tic­u­larly hard hit. And yet, in some ways, the events of 2020 have ac­cel­er­ated changes that were already gath­er­ing mo­mentum. For the real es­tate sec­tor there is now an op­por­tun­ity to re­set. For the first time, our re­search this year polls not only over 240 lead­ers across the real es­tate sec­tor, but over 1,500 seni­or of­fice oc­cu­pi­ers with de­cision mak­ing re­spons­ib­il­ity for prop­erty is­sues, and over 500 glob­al in­sti­tu­tion­al in­vestors. It takes a de­tailed look at mar­ket re­ac­tion to the pan­dem­ic and the last­ing im­pact it could have on the of­fice as­set class and the way in which we will ad­apt to our new work­ing en­vir­on­ment. We will also ex­plore real es­tate’s jour­ney from pan­dem­ic to pur­pose, as sus­tain­ab­il­ity and so­cial im­pact set the agenda for the sec­tor. This is our eighth an­nu­al re­port where we look to the fu­ture, ad­dress key is­sues fa­cing the real es­tate sec­tor and ex­plore mar­ket trends. We hope you en­joy read­ing it.
07 August 2020
Treaty claims for can­celled or mod­i­fied in­fra­struc­ture pro­jects in the...
A re­cent IC­SID tribunal has denied an in­vestor’s claim con­cern­ing the de­vel­op­ment of an air­port pro­ject in Latvia. The in­vestor was un­able to pro­ceed with the con­struc­tion of its pro­ject due to nu­mer­ous...
31 July 2020
An­nu­al Re­view 2019 – 2020
We are liv­ing in tur­bu­lent times, char­ac­ter­ised by polit­ic­al, cli­mate and health crises. The most acute of these – the COV­ID-19 pan­dem­ic – has clearly shown how in­ter­con­nec­ted our eco­nom­ies are: travel, com­merce and sup­ply chains world­wide have been im­pacted. No in­di­vidu­al or busi­ness has re­mained totally un­af­fected by it.As a glob­al or­gan­isa­tion, with a pres­ence in key busi­ness hubs around the world, we are wit­ness­ing the im­pact of the pan­dem­ic firsthand. Our teams in Asia, Europe, Africa and Lat­in Amer­ica are help­ing cli­ents deal with this un­pre­ced­en­ted situ­ation. Un­fold­ing in dif­fer­ent in­tens­it­ies in dif­fer­ent parts of the world at dif­fer­ent times, our teams are in the for­tu­nate po­s­i­tion of be­ing able to con­nect with and learn from each oth­er. This en­ables us to sup­port our cli­ents in a mean­ing­ful way, listen­ing to and un­der­stand­ing their con­cerns and provid­ing them with busi­ness-rel­ev­ant ad­vice that draws on in­sights from our ex­perts world­wide.In this crisis, we, as a so­ci­ety, are at a cross­roads. What is cer­tain is that for in­di­vidu­als and busi­nesses (ours in­cluded) there will be no ‘back to busi­ness as usu­al’. Things need to (and will) change. How we shape the ‘new nor­mal’ is up to us. In this An­nu­al Re­view, we look at some key de­vel­op­ments that are in­creas­ingly im­pact­ing busi­ness suc­cess. Com­pan­ies need to take these in­to con­sid­er­a­tion when ad­apt­ing their op­er­a­tions to the new busi­ness en­vir­on­ment.The months ahead will be chal­len­ging for us all. Busi­nesses will need to think stra­tegic­ally and po­s­i­tion them­selves for suc­cess in the new nor­mal. We at CMS see it as our task to guide our cli­ents through this chan­ging busi­ness land­scape.Mat­thi­as Licht­blau (Ex­ec­ut­ive Dir­ect­or) Pierre-Sé­bas­tien Thill (Chair­man) Duncan We­st­on (Ex­ec­ut­ive Part­ner) CMS Ex­ec­ut­ive Team
05 June 2020
Ad­vance pay­ment bonds: “step­ping down” pro­vi­sions and more guid­ance on...
Last month we re­por­ted on a TCC de­cision which con­sidered the re­quire­ments for mak­ing and re­ject­ing a de­mand un­der an ad­vance pay­ment bond sub­ject to the URDG. Very sim­il­ar is­sues have now been con­sidered...
26 June 2020
The Lat­in Amer­ic­an GC: Rising to the chal­lenge
When we first draf­ted this fore­word, it said that al­though our fo­cus in this re­port is on per­son­al de­vel­op­ment for GCs, the world in which a GC works does make a dif­fer­ence to their role. Re­cent events have con­firmed that in a way we could nev­er have ima­gined.As we sur­veyed and in­ter­viewed GCs across Lat­in Amer­ica, no-one had heard of Cov­id-19. But now we are pub­lish­ing this re­port in what seems like a dif­fer­ent world from the one where we gathered our data.Clearly, we have to ask: is it still rel­ev­ant? The coronavir­us has brought not only count­less hu­man tra­gedies but also world­wide so­cial, fin­an­cial and com­mer­cial dis­rup­tion. Are our find­ings about the in-house pro­fes­sion still val­id in such a chal­len­ging and chan­ging en­vir­on­ment?We be­lieve they are. Our firm began its pro­gramme of GC re­ports dur­ing the glob­al fin­an­cial crisis. Such crises ac­cel­er­ate and change the way we view things. The glob­al fin­an­cial crisis boos­ted the status and value of many GCs, help­ing them achieve the am­bi­tions we dis­cussed. By help­ing their busi­nesses nav­ig­ate troubled times, with new re­quire­ments in areas such as com­pli­ance, they be­came more in­flu­en­tial.In the present crisis we will see oth­er GCs ex­per­i­ence a sim­il­ar change, as their com­pan­ies fo­cus on sur­viv­al, risk and sus­tain­ab­il­ity in the ‘new nor­mal’. Our re­search shows that Lat­in Amer­ic­an GCs are ready to seize such op­por­tun­it­ies, to prove their worth and to grow and de­vel­op their roles.In some re­spects, this re­port of­fers a snap­shot of life be­fore Cov­id-19. But in oth­er ways it’s a vis­ion for the fu­ture. The dir­ec­tion of travel for GCs – to­wards be­com­ing genu­inely stra­tegic busi­ness coun­sel – re­mains the same, even if some de­tails change. If the crisis ac­cel­er­ates pre-ex­ist­ing trends, they will be trends that GCs had already re­cog­nised.We be­lieve this is the first study of its kind in Lat­in Amer­ica.We hope that you will find it use­ful and thought­pro­vok­ing, even – or per­haps even more – in these dif­fi­cult times.We would also like to thank the many con­trib­ut­ors across CMS for their sup­port with pre­par­ing this re­port. It is not pos­sible to men­tion all of those who have made sig­ni­fic­ant con­tri­bu­tions by name.However, we would like to give par­tic­u­lar thanks to Adam Beach, Madalena Hou­li­han, Jonath­an Fenton, Cath­er­ine Mc­Gregor and Mary Hoover, for their con­sid­er­able ef­forts in as­sist­ing us.
07 May 2020
The use of ex­perts in in­ter­na­tion­al con­struc­tion dis­putes: con­flicts of...
A re­cent de­cision of the Tech­no­logy and Con­struc­tion Court ap­pears to be the first re­por­ted Eng­lish de­cision to up­hold a fudi­ciary duty of loy­alty in an ex­pert wit­ness ap­point­ment. The find­ing in this...
22 June 2020
The Lat­in Amer­ic­an Gen­er­al Coun­sel
The first CMS Gen­er­al Coun­sel re­port in the Lat­in Amer­ica re­gion ex­plores the de­vel­op­ment of the GC role and how the world in which GCs work im­pacts them
28 April 2020
Elec­tron­ic Sig­na­tures in Real Es­tate Doc­u­ments
For many with­in the Real Es­tate in­dustry, the use of elec­tron­ic sig­na­tures will be un­fa­mil­i­ar ground – a prac­tice of­ten dis­cussed but nev­er used. Yet, where they are cap­able of be­ing used, elec­tron­ic...
April 2020
Our real es­tate cap­ab­il­ity at your ser­vice
22 April 2020
LMA-Style Loan Agree­ments and COV­ID-19 in Oman
In the cur­rent un­pre­ced­en­ted times of COV­ID-19, with many busi­nesses shut down or with re­duced abil­ity to op­er­ate, sup­ply chains dis­rup­ted and little or no cus­tom­ers for many ser­vices and products, cash...
April 2020
CMS Guide to Real Es­tate Trans­ac­tion Costs and Taxes in Europe
09 April 2020
Cov­id-19 Pan­dem­ic – Can the re­new­able en­ergy sec­tor pass the test?
Cor­rect as of 9am, 7th April. This art­icle is not be­ing main­tained. As of the date of this art­icle, re­new­able en­ergy (“RE”) pro­jects around the world in­clud­ing in the Middle East and North Africa...